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Rivian, the electric "cybertruck" company hits US$100 billion valuation, surpassing General Motors despite only ever having delivered 150 vehicles

The Rivian R1T has been in limited production since earlier this year (Image source: Rivian)
The Rivian R1T has been in limited production since earlier this year (Image source: Rivian)
Rivian, an electric car maker touted as a competitor to Tesla and supported by the likes of Facebook and Amazon, recently hit a US$100 billion valuation on the stock market, despite the fact that the company has only ever manufactured and delivered 150 vehicles to customers so far.

Rivian, an electric car company that makes an alternative to Tesla's quirky "cybertruck" recently saw its stock market valuation rise to US$100 billion. But while Elon Musk's electric car business has shipped millions of units worldwide, Rivian's valuation is perplexing, considering how the company's only ever made and delivered 150 finished vehicles. 

Rivian's received over half a billion dollars in investment from Ford and significant backing from Amazon, which plans to use its "cybertrucks" for delivery services in the years to come. Rivian's IPO and subsequent valuation should easily give it the cash it needs to reach its target of producing 1000 electric SUVs and trucks this year. 

The electric car industry is seeing something of a renaissance over the past few years. Tesla saw its valuation soar recently to over US$1 trillion. And globally, electric vehicles now account for over a quarter of all new car sales. In this environment, Rivian's stock rally makes more sense, but it remains to be seen whether the company will deliver on long-term promises.  

For a more compact EV experience, check out this electric vehicle on Newegg. 

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> Notebook / Laptop Reviews and News > News > News Archive > Newsarchive 2021 11 > Rivian, the electric "cybertruck" company hits US$100 billion valuation, surpassing General Motors despite only ever having delivered 150 vehicles
Arjun Krishna Lal, 2021-11-13 (Update: 2021-11-13)